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- Tridge
Tridge Revenue, Valuation, Funding & Investors
Tridge is valued at $2.7B as of August 2022.
Last Tridge valuation
$2.7B
Series D · Aug 2022
Last Tridge funding round
$38M
Series D · Aug 2022
Tridge revenue
$89M
Series C · Jul 2021
Key investors in Tridge
Forest Partners
SBVA
Activant Capital
DS Asset Management
About Tridge
Tridge is a Seoul-headquartered platform connecting food and agriculture buyers with sellers across 150 countries. Its marketplace facilitates sourcing from research through ordering, offering price analytics, quality verification, and logistics for commodities like fruits, grains, and seafood. The company processes over $2 billion in annual trade volume, serving importers in North America, Europe, and Asia with tools for supply chain transparency.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Commission
Revenue
$89M (Jul 2021)
Valuation
$2.7B (Aug 2022)
Tridge Valuation
Tridge is currently valued at $2.7B, based on its Series D in August 2022.
The $38M round was led by DS Asset Management.
Tridge's valuation has grown 19x from $140M at its Series B in April 2020 to $2.7B in August 2022, across 3 priced rounds.
Tridge valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2022 | Series D | $2.7B | - |
| Jul 2021 | Series C | $500M | 5.6x |
| Apr 2020 | Series B | $140M | - |
Tridge Revenue
Tridge's latest recorded revenue is $89M, as of its Series C in July 2021. At a $500M valuation, that implies a 5.6x revenue multiple.
Tridge revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2021 | $89M | $500M | 5.6x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Tridge Funding History
Tridge has raised a total of $114M across 4 funding rounds.
Tridge's first fundraising round was a $6M Series A in November 2019. The most recent completed round was a $38M Series D in August 2022.
Tridge funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2022 | Series D | DS Asset Management (lead) | $38M | $2.7B | Tridge is a Seoul-based global agtech company operating a comprehensive agricultural platform that digitizes market intelligence and fulfillment services, connecting buyers and sellers of agricultural products across 150 countries, eliminating intermediaries, and providing data on seasonality, production, and trade to facilitate efficient global trade and enhance food security. On August 25, 2022, Tridge closed a $37 million (or $37.2M) Series D funding round led by DS Asset Management, bringing total equity funding to nearly $120M or $111.7M since 2015, with the post-money valuation reaching $2.7 billion, a 5.4x increase from the prior $500M valuation after its $60M Series C in July 2021 backed by Forest Partners and others including SoftBank Ventures Asia and Activant Capital. The funding will support expansion of services, technology investments, and international growth focusing on markets like the U.S., Europe, Turkey, Brazil, India, Vietnam, and Tanzania, where Tridge has offices in 45 countries and employs about 600 people. The platform now has over 400,000 subscribers and serves more than 15,000 agricultural products with over 100,000 suppliers. Traction includes fulfillment service revenues starting September 2021, with last year's sales under $7.4M (10B KRW) and current monthly sales between $15M-$23M as of the round, driven by increased transactions amid pandemic-related supply chain disruptions and demand for digital sourcing. |
| Jul 2021 | Series C | Forest Partners (lead) | $60M | $500M | Tridge is a Seoul-based digital platform connecting food and agriculture buyers and sellers globally, offering market intelligence, trading matchmaking, and fulfillment services to address supply chain disruptions and fragmentation in the sector. The company raised $60 million in its Series C round in July 2021 from Forest Partners, achieving a post-money valuation of $500 million, up from $140 million in its prior April 2020 round. This funding aimed to scale fulfillment services, expand physical presence with co-packing and warehousing in 50 strategic countries, and meet surging demand from pandemic-related logistics issues and travel restrictions. By the time of the Series C, Tridge had attracted 50,000 buyers since launching its core services in October 2020 and reported less than $7.4 million in sales for the previous year, with monthly sales reaching $15-23 million after September 2021. It projected fulfillment revenue of $300 million by end-2021. The platform operated in 45 countries with about 600 employees, focusing on transactions in markets like the U.S., Brazil, Turkey, India, Vietnam, Australia, Tanzania, the Netherlands, and Canada. A subsequent Series D in August 2022 raised $37.2 million at a $2.7 billion valuation, reflecting a 5.4x increase driven by revenue growth in fulfillment services, bringing total funding to $111.7 million. Backers included SoftBank Ventures Asia and Activant Capital alongside Forest Partners. |
| Apr 2020 | Series B | Forest Partners; SBVA; Activant Capital | $11M | $140M | Tridge is a Seoul-based agriculture marketplace that connects buyers and sellers of food and agricultural products globally, offering market intelligence, fulfillment services including purchasing, packing, and warehousing, and enabling transactions across 150 countries. The platform serves over 50,000 buyers including Walmart, Nestlé, and Kellogg’s, with a focus on reliability amid supply chain disruptions like those from the COVID-19 pandemic. In April 2020, Tridge raised $11 million from Forest Partners, U.S.-based Activant Capital, and SoftBank Ventures Asia (SBVA) at a post-money valuation of $140 million. This round preceded subsequent financings, including a $60 million Series C in July 2021 led by Forest Partners at a $500 million valuation, used to expand packing and warehousing facilities. Tridge has grown its operations to offices in 45 countries and around 600 employees, with fulfillment as its primary revenue source, though specific figures near the April 2020 round are not detailed. |
| Nov 2019 | Series A | SBVA (lead); Forest Partners; Activant Capital | $6M | - | - |
Who has invested in Tridge?
4 investors have backed Tridge across its funding rounds, including Forest Partners, SBVA, Activant Capital and DS Asset Management.
Lead investors include DS Asset Management, Forest Partners and SBVA.
Tridge Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Nov 2019 | ||
| 2 | Lead | Nov 2019 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialTridge Competitors
Tridge competitors include listed companies like TBO.com and Izumi Co, and private ones like RigUp, Jusda, Inxeption and Zetwerk.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $2.9B | - | ||
| Private | - | - | $2.5B | - | ||
| Private | $300M | - | $3B | 10.0x | ||
| Private | $102M | $20M | $3.1B | - | ||
| Publicly listed | $262M | $41M | $1.8B | 5.2x | ||
| Publicly listed | $3.7B | $300M | $1.4B | 0.6x |
Tridge Public Comps
Tridge is still privately-owned, but its public comps include Bakkafrost, People, KWS SAAT, Olam Group, Goto Gojek Tokopedia, Andersons, Rasan, Seek, ScottsMiracle-Gro and Stubhub.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.1B | $241M | 3.3x | 3.0x | 14.6x | 10.2x | |||
| $2.4B | $122M | 1.3x | 1.6x | 25.4x | 11.3x | |||
| $1.9B | $371M | 1.3x | 1.3x | 6.9x | 6.3x | |||
| $23B | $1.6B | 0.4x | 0.5x | 6.4x | 7.9x | |||
| $1B | ($16M) | 2.0x | 1.7x | (125.5x) | 13.1x | |||
| $11B | $315M | 0.3x | 0.3x | 10.5x | 8.0x | |||
| $174M | $73M | 16.1x | 11.0x | 38.6x | 25.9x | |||
| $914M | ($63M) | 4.2x | 4.5x | (61.7x) | 10.2x | |||
This data is available for Pro users. Sign up to see all Tridge competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Tridge
| When was Tridge founded? | Tridge was founded in 2015. |
| Where is Tridge headquartered? | Tridge is headquartered in Seoul, South Korea. |
| Is Tridge publicly listed? | No, Tridge is a private, VC-backed company. |
| What is Tridge's valuation? | Tridge was last valued at $2.7B in its Series D in August 2022. |
| How much funding has Tridge raised? | Tridge has raised $114M across 4 funding rounds. |
| What was Tridge's last funding round? | Tridge's last funding round was a $38M Series D in August 2022, led by DS Asset Management. |
| Who are Tridge's investors? | Tridge's investors include Forest Partners, SBVA, Activant Capital and DS Asset Management. |
| What is Tridge's revenue? | Tridge's latest recorded revenue is $89M (July 2021). |
| What is Tridge's revenue multiple? | Tridge's latest valuation implies a 5.6x revenue multiple ($500M valuation on $89M of revenue). |
| Which companies are comparable to Tridge? | Companies comparable to Tridge include RigUp, Jusda, Inxeption, Zetwerk, TBO.com and Izumi Co. |
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